CBN Instructs Banks to Refund Excess Charges



CENTRAL BANK OF NIGERIA LOGO BELLA NAIJA
The Central Bank of Nigeria has ordered all deposit money banks to refund illegal fees they charged customers over a one-year period.
CBN stated that some banks had been overcharging customers on the Commission in Turnover, and that some lenders had also charged illegal maintenance fees on COT-free accounts, Punch reports.
Consequently, CBN has given all the deposit money banks 30 days to refund the excess charges or face dire penalties.
Good move by the New CBN Governor #thumbsup

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